HDFC Bank a beacon of safety amid rising systemic stress, shares deserve premium, says Emkay Global; raises target price
2 weeks, 3 days ago

HDFC Bank a beacon of safety amid rising systemic stress, shares deserve premium, says Emkay Global; raises target price

Live Mint  

HDFC Bank share price gained nearly 2% on Monday amid broad-based buying in banking stocks, fuelling a short-covering rally in the Indian stock market. Positive momentum in HDFC Bank shares was also boosted after Emkay Global reiterated its bullish view on the banking heavyweight and raised target price on the stock. With rising systemic stress, we believe HDFC Bank deserves a safety premium given healthy RoAs and provision/capital buffer,” said Dama. Emkay Global retained its ‘Buy’ rating on HDFC Bank shares and increased the target price by 5% to ₹2,100 apiece, implying an upside of 18.5% from Friday’s closing price.

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